Can You Lease a Used Car?

Used cars on a lot
 

There’s hardly a better solution than vehicle leasing if you’re looking to keep your monthly payments low, avoid having to put loads of money down and are looking for a vehicle upgrade every couple of years. And while new car leasing is quite common, if you’re wondering to yourself, “Can I lease a used car?” the answer is “Yes!”. That said, you’ll want to contact us at Crown Buick GMC to see if we have any used car leases available currently. The fact is, while used car leasing is well within the realm of possibility, it’s far less common than new car leasing. Read on to learn more.

Used Car Leasing: What You Should Know

Many manufacturers won’t necessarily lease just any used car. In fact, it’s most common for just certified pre-owned vehicles to be available for lease. What defines a certified pre-owned, or CPO vehicle for short? GM-certified-pre-owned vehicles must be less than six years old and have less than 75,000 miles on the odometer. They also must have a clean title and must have passed a 172-point vehicle inspection.

According to the National Automobile Dealers Association, or NADA, the list of manufacturers which are said to offer CPO leasing includes Acura, Audi, BMW, Chrysler, Dodge, Ferrari, FIAT, Honda, Hyundai, INFINITI, Jeep, Kia, Lexus, Lincoln, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Porsche, RAM, Toyota, Volkswagen, and Volvo. Accordingly, if you’re looking to lease a used or CPO vehicle other than a Buick or GMC, these would likely be the brands you’d be able to choose from.

What Exactly is CPO Leasing?

Leasing a certified pre-owned vehicle near Gretna is pretty much the same as leasing a new vehicle in terms of process. With used car leasing, not unlike new car leasing, the difference between the sale price of the vehicle and its estimated value at lease-end will determine the final monthly lease payment. 

What does this mean for you? Well, used cars depreciate much more slowly than new cars, as they’ve already taken their steepest drop in price after having driven off the lot when new, so the difference between the sale price and estimated lease-end value will be smaller than it would be with a new vehicle, and your monthly payments will almost certainly be lower. 

Similar to new car leasing, CPO and used car leasing agreements will include mileage restrictions, and the vehicles must be returned at lease end. 

Why Choose a Used Car Lease?

  • Lower Monthly Payments: You can usually lease a used car for a much lower monthly amount than you would lease a new car. for 
  • Potential for Lease Buyout: Looking to buy out your used lease when it’s done? That’s an option, just like with new car leasing. 
  • Lower Insurance Rates: There’s a good chance you can get a lower car insurance rate with a CPO lease vs. a new lease. 

Contact Us or Apply for Financing Today!

Have any additional questions about used car leasing near New Orleans or Kenner? Give us a call at 504-517-0840! Otherwise, utilize our online shopper if interested in buying your next vehicle from the comfort of home. Looking for an alternative to used car leasing? We have tons of bargain-priced used vehicles for sale that can get you the low monthly payment you’re looking for!

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